Goldman Sachs
-
The struggling carmaker issued $150m of senior secured notes in a private placement priced at steep 12%, hiking up its leverage ratio. S&P showed no mercy and instantly cut Aston Martin’s credit rating to CCC+ from B-, leaving the firm on outlook negative. The company is betting its future on the risky launch of a family-friendly luxury SUV. -
Islamic Development Bank on Wednesday priced a five year sukuk bond, coming to market alongside Samba, a Saudi Arabia based bank. The deals are the latest in a flood of Middle East issuance that has raised $13.35bn this week alone.
-
Nasdaq-listed Chinese company Pinduoduo has printed its debut convertible bond at the tight end of price guidance, pocketing $875m.
-
The US’s Thermo Fisher Scientific had a barnstorming outing in the euro bond market on Tuesday, raising hopes that fears of an oversaturated market were overblown.
-
French agency SNCF Réseau steamed on to screens on Tuesday with initial pricing thoughts for a tap of its December 2047 green bond.
-
Banco BPM spied a chance on Tuesday to issue a tier two bond to beef up its capital buffers. The Italian lender launched a 10 year non-call five deal at a 4.25% coupon — 37.5bp tighter than the initial price thoughts.
-
Chinese sportswear retailer Topsports International Holdings has opened books for its up to HK$9.4bn ($1.2bn) Hong Kong listing.
-
Chinese e-commerce platform Pinduoduo has opened books for a convertible bond backed by its American Depository Shares, in what has become an increasingly popular corner of the equity-linked market.
-
Sparebank 1 Østlandet priced €500m of debt in senior preferred format at a spread of 67bp over mid-swaps this week — 8bp tighter than the initial price talk. The issuer is not a frequent visitor to the primary market, so it had to pay a higher premium than other borrowers, according to a banker away from the deal.
-
The European Bank for Reconstruction and Development won strong demand from investors as it brought a new type of green bond to the market last Friday. The deal aims to put more focus on the need to adapt to climate change, complementing the work being carried out to mitigate its effects.
-
The US corporate bond market shrugged off two market interventions by the Federal Reserve this week — an emergency funding injection and an arguably underwhelming rate cut — as supply picked up on Thursday with trades from Wal-Mart and Volkswagen.
-
